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Cyberleek Burned 270 Milion dev coins (lemmy.nz)

submitted 1 day ago by oldmanalex@sh.itjust.works to c/piracy@lemmy.dbzer0.com

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[-] treadful@lemmy.zip 49 points 1 day ago

Dev coins are just the initial amount of coins that the dev bought to start their own meme coin.

A minor but important clarification is that the creator does not buy anything. It's just the initial allotment they assigned themselves upon deployment of the contract.

[-] bunnyBoy@pawb.social 2 points 23 hours ago

So again, I'm definitely not knowledgeable on the subject, but doesn't it take some start up capital to even launch a coin? I guess that initial cash isn't really 'buying' a coin, but if starting a coin costs $20 and you gave yourself 20 coins, didn't you essentially buy the first 20 coins for $1 a piece?

[-] treadful@lemmy.zip 4 points 20 hours ago* (last edited 8 hours ago)

Small network fee to deploy the contract. For a simple one, probably like $1. And this guy minted himself ~~billions of~~ 207M tokens.

So sure, technically you'll need some "startup capital" but saying they bought the tokens suggests it was on the open market which isn't the case.

this post was submitted on 24 Aug 2026

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